'This book contains a high-level collection of papers by some of today's leading distributional analysts. The chapters are well-chosen and are written by respected authors with international profiles. The book will be highly valued as a reference work, by research economists and practitioners,...

The well-known approximation of the difference between the arithmetic average and geometric average returns as one-half of the variance of the underlying returns is reexamined using Jensen's Inequality. The "defect" in Jensen's Inequality, is given an exlicit formula in terms of the variance...

Given the complexity of interaction between inflation and inequality, we examine whether the impact of inflation on inequality differs among distinct levels of income inequality across the US states. Results reveal that there is a negative contemporaneous effect of inflation on the inequality...